Narrative
Full Description
Project narrative
On March 28, 2017, financial close was reached on a deal in which a syndicate of 11 banks — including the Bank of China (BOC) entered into a €300.00 million EUR ($325.98 million USD) senior secured syndicated bridge facility agreement with Areva S.A. — a French multinational nuclear power group majority-owned by the French State — for unspecified purposes. This loan carried a maturity period of approximately 0.784 years and a final maturity date of January 8, 2018. The proceeds were to be used by the borrower to provide additional cash and liquidity needs in case the sale of New NP (Areva's reactor unit) to French state-owned Électricité de France S.A. (EDF) was delayed until the end of 2017. The proceeds were to be used by the borrower to provide additional cash and liquidity needs in case the sale of New NP (Areva's reactor unit) to French state-owned Électricité de France S.A. (EDF) was delayed until the end of 2017. Each lender, including BOC, contributed €27.27 million EUR ($29.63 million USD) to the loan syndicate. In addition to BOC, the following lenders contributed to the loan syndicate: BNP Paribas S.A., Crédit Industriel et Commercial (CIC), Crédit Agricole Group, HSBC Bank, JPMorgan Chase Bank N.A., La Banque Postale, Natixis, Banco Santander S.A., Société Générale S.A. (SocGen), and UniCredit S.p.A..